The Global Cancer Immunotherapy Market to Upsurge at a Tremendous CAGR of ~12% by 2027 | DelveInsight

Rhea-AI Summary

The cancer immunotherapy market is projected to grow significantly, primarily due to the rising prevalence of cancer and increased exposure to carcinogens. DelveInsight's report indicates North America will maintain its dominance in the market, expected to reach USD 162.87 billion by 2027, with a CAGR of ~12% from 2022-2027. Key players include Amgen, AstraZeneca, and Merck, among others. Recent advancements include FDA fast-track designation for Evaxion Biotech's EVX-01 in combination with KEYTRUDA. However, challenges such as high treatment costs and adverse effects remain. The full report provides insights on market dynamics and key drivers.

Positive

• Projected market size of USD 162.87 billion by 2027 with a CAGR of ~12%.
• FDA granted fast-track designation for Evaxion Biotech's EVX-01 personalized cancer therapy.

Negative

• High treatment costs may pose challenges to market growth.
• Adverse effects associated with immunotherapy treatments could hinder patient acceptance.

The cancer immunotherapy market is experiencing positive market growth due to factors such as rising cancer prevalence worldwide and increased exposure to carcinogenic substances, smoking, radiation, viruses, and others. Furthermore, rising healthcare costs and a growing preference for cancer immunotherapy over other treatment options will drive the cancer immunotherapy market

LAS VEGAS, March 2, 2023 /PRNewswire/ -- DelveInsight's Cancer Immunotherapy Market Insights report provides the current and forecast market analysis, individual leading cancer immunotherapy companies' market shares, challenges, cancer immunotherapy market drivers, barriers, and trends, and key cancer immunotherapy companies in the market.

Key Takeaways from the Cancer Immunotherapy Market Report

• As per DelveInsight estimates, North America is anticipated to dominate the global cancer immunotherapy market during the forecast period. 
• Notable cancer immunotherapy companies such as Amgen Inc., AstraZeneca, F. Hoffmann-La Roche Ltd, Bayer AG, Bristol-Myers Squibb, Eli Lilly and Co., Merck & Co., Inc., Novartis AG, Pfizer Inc., Johnson & Johnson Services, Inc., Gilead Sciences, Inc., Dendreon Pharmaceuticals LLC., Fate Therapeutics, Precision BioSciences, IOVANCE Biotherapeutics, Inc., Spectrum Pharmaceuticals, Inc., Sanofi, Mylan N.V., Apotex Inc., Hikma Pharmaceuticals PLC, and several others are currently operating in the cancer immunotherapy market.
• In February 2023, AstraZeneca India received additional indication approval from the Central Drugs Standard Control Organization (CDSCO) for Durvalumab to treat biliary tract cancer (BTC) in India.
• In February 2023, Akamis Bio, a clinical-stage oncology company that uses its Tumor-Specific Immuno-Gene Therapy (T-SIGn®) platform to improve the lives of cancer patients, announced an expansion of its ongoing partnership with the Parker Institute for Cancer Immunotherapy (PICI) to include a clinical collaboration with the Cancer Research Institute (CRI) that will focus on advancing novel treatments for pancreatic cancer.
• In February 2023, Jemperli received routine FDA approval for endometrial cancer. The full approval was based on long-term results from the Phase I GARNET trial, which showed that the drug had a 45.4% overall response rate.
• In January 2023, Pembrolizumab (Keytruda, Merck) was approved by the FDA as a single agent for adjuvant treatment after surgical resection and platinum-based chemotherapy for adults with stage IB (T2a 4 cm), II, or IIIA non-small cell lung cancer (NSCLC). Pembrolizumab is now the only immunotherapy approved for NSCLC in both adjuvant and metastatic settings, regardless of PD-L1 expression.
• In January 2023, Evaxion Biotech A/S, a clinical-stage biotechnology company specializing in the development of AI-driven immunotherapies, announced that the FDA had granted fast-track designation for the Company's personalized cancer therapy, EVX-01, in combination with KEYTRUDA®.
• In December 2022,  the U.S. Food and Drug Administration (FDA) approved mosunetuzumab (Lunsumio) for the treatment of adults with advanced follicular lymphoma. This is the first bispecific antibody, a type of immunotherapy, that has been approved for the treatment of all types of non-Hodgkin lymphoma.
• In November 2022, Immunitas Therapeutics, a clinical-stage precision immunotherapy company dedicated to discovering and developing novel, differentiated therapeutics for cancer patients, presented preclinical data on lead program IMT-009, a fully human monoclonal antibody against a novel immuno-oncology target CD161, at the Society for Immunotherapy of Cancer (SITC) 37th Annual Meeting, which held both virtually and in Boston from November 8-12, 2022.
• In November 2022, ENB Therapeutics, Inc., a biotechnology company pioneering a new and distinct class of endothelin B receptor (ETBR) inhibitor therapeutics, announced that it will present a scientific poster on ENB-003 at the 2022 Summit for Cancer Immunotherapy in Montreal, Quebec, November 19-21, 2022.

To read more about the latest highlights related to the cancer immunotherapy market, get a snapshot of the key highlights entailed in the Global Cancer Immunotherapy Market Report

Cancer Immunotherapy Overview

Immunotherapy is a type of cancer treatment. It employs substances produced by the body or in a laboratory to boost the immune system and assist the body in locating and destroying cancer cells. Immunotherapy has the potential to treat a wide range of cancers. It can be used alone or in conjunction with chemotherapy and other cancer treatments. Different types of immunotherapy work in different ways. Some immunotherapy treatments help the immune system stop or slow the growth of cancer cells. Others aid the immune system in destroying cancer cells or preventing cancer from spreading to other body parts.

Cancer Immunotherapy Market Insights

North America dominated the global cancer immunotherapy in 2021, and it is expected to continue to do so during the forecast period (2022–2027). This can be attributed to the increasing prevalence of cancers, increased exposure to carcinogenic substances, smoking, radiation, viruses, and the presence of key market players in the region, all of which act as supportive factors for the growth of the North American cancer immunotherapy market. In addition, the rise in product launches in the region is boosting the growth of the cancer immunotherapy market. For instance, in January 2023, Pembrolizumab (Keytruda, Merck) was approved by the FDA as a single agent for adjuvant treatment after surgical resection and platinum-based chemotherapy for adults with stage IB (T2a 4 cm), II, or IIIA non-small cell lung cancer (NSCLC). Pembrolizumab is now the only immunotherapy approved for NSCLC in both adjuvant and metastatic settings, regardless of PD-L1 expression.

To know more about why North America is leading the market growth in the cancer immunotherapy market, get a snapshot of the Cancer Immunotherapy Market Outlook 

Cancer Immunotherapy Market Dynamics

The rising prevalence of cancers globally is one of the key factors driving the cancer immunotherapy market. Furthermore, smoking, radiation exposure, and chemical exposure have all been linked to an increased risk of cancer. Infections with Epstein-Barr virus, HIV, and human T-cell lymphoma/leukemia virus, for example, are risk factors for lymphomas and leukemia. As a result, increased exposure to any of the factors listed above will increase the number of cases of blood cancer. Similarly, the aforementioned factors can increase the risk of any type of cancer, ultimately increasing cancer prevalence and, as a result, increasing the demand for cancer immunotherapy in the coming years. Moreover, an increase in cancer immunotherapy awareness programs is expected to help the cancer immunotherapy market gain traction during the forecast period.

However, high treatment costs, adverse effects of immunotherapy treatment, and other factors may pose challenges to the growth of the cancer immunotherapy market.

Additionally, the COVID-19 pandemic has had a minor impact on the cancer immunotherapy market. The pandemic's outbreak resulted in the cancellation of outpatient visits and the suspension of non-emergency hospitals and procedures for chronic diseases such as cancer, diabetes, cardiovascular disease, and others. As a result, the number of patients seeking routine cancer and other disorders mentioned above has decreased. However, the development of COVID-19 vaccine has resulted in the process of economic recovery, with the easing of lockdown restrictions and the return of normalcy in the economic landscape, which has initiated the process of resumption of regular healthcare services such as outpatient visits, bringing the demand for products in the cancer immunotherapy market back on track.

Get a sneak peek at the cancer immunotherapy market dynamics @ Cancer Immunotherapy Market Dynamics Analysis

Report Metrics	Details
Coverage	Global
Study Period	2019–2027
Base Year	2021
Cancer Immunotherapy Market CAGR	~12%
Projected Cancer Immunotherapy Market Size by 2027	USD 162.87 Billion
Key Cancer Immunotherapy Companies	Amgen Inc., AstraZeneca, F. Hoffmann-La Roche Ltd, Bayer AG, Bristol-Myers Squibb, Eli Lilly and Co., Merck & Co., Inc., Novartis AG, Pfizer Inc., Johnson & Johnson Services, Inc., Gilead Sciences, Inc., Dendreon Pharmaceuticals LLC., Fate Therapeutics, Precision BioSciences, IOVANCE Biotherapeutics, Inc., Spectrum Pharmaceuticals, Inc., Sanofi, Mylan N.V., Apotex Inc., Hikma Pharmaceuticals PLC, among others

 

Cancer Immunotherapy Market Assessment

• Cancer Immunotherapy Market Segmentation
• Market Segmentation By  Type: Monoclonal Antibodies, Immunomodulators, Cancer Vaccines, Checkpoint Inhibitors, and Others
• Market Segmentation By  Indication: Lung Cancer, Breast Cancer, Prostate Cancer, Colorectal Cancer, and Others
• Market Segmentation By  End User: Hospitals And Clinics, Specialty Centers, and Others
• Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
• Porter's Five Forces Analysis, Product Profiles, Case Studies, KOL's Views, Analyst's View

Which MedTech key players in the cancer immunotherapy market are set to emerge as the trendsetter explore @ Cancer Immunotherapy Companies 

Table of Contents 

1	Report Introduction
2	Executive summary
3	Regulatory and Patent Analysis
4	Key Factors Analysis
5	Porter's Five Forces Analysis
6	COVID-19 Impact Analysis on Cancer Immunotherapy Market
7	Cancer Immunotherapy Market Layout
8	Global Company Share Analysis – Key 3-5 Companies
9	Cancer Immunotherapy Market Company and Product Profiles
10	Project Approach
11	About DelveInsight

 

Interested in knowing the cancer immunotherapy market by 2027? Click to get a snapshot of the Cancer Immunotherapy Market Trends

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SOURCE DelveInsight Business Research LLP

FAQ

What is the projected size of the cancer immunotherapy market by 2027?

The cancer immunotherapy market is projected to reach USD 162.87 billion by 2027.

What is the CAGR for the cancer immunotherapy market from 2022 to 2027?

The market is expected to grow at a CAGR of approximately 12% during this period.

Which companies are leading in the cancer immunotherapy market?

Key players include Amgen, AstraZeneca, Merck, and Evaxion Biotech, among others.

What designation did Evaxion Biotech receive for EVX-01?

Evaxion Biotech's EVX-01 received fast-track designation from the FDA.

What factors are driving the growth of the cancer immunotherapy market?

Rising cancer prevalence and increasing healthcare costs are key growth drivers.